Currently, organizations, associations, and institutions, other than banks and other financial institutions, may need to transfer funds to one of their customers or members. For example, an insurance company may need to settle an automotive repair or replacement claim by sending a check to a member for the cost of covered repairs or to buy a replacement vehicle. In general, such payments or checks are sent by U.S. Postal Service or by an overnight delivery service. This is relatively slow, requiring from at least one day up to several days in transit, and as a result the member may be significantly inconvenienced while waiting for the funds to arrive to make the needed repairs or buy the replacement vehicle.
Thus, systems and methods are needed that address the shortcomings of the prior art.